Planet Labs PBC (NYSE:PL) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Planet Labs PBC has received a consensus rating of "Moderate Buy" from ten brokerages, with nine analysts rating it as a buy and one as a hold.
• The company's average 12-month price target among analysts is $8.56, while shares recently opened at $14.87, showing significant growth potential.
• For the recent quarter, Planet Labs reported $73.39 million in revenue, exceeding expectations and marking a 20.1% year-over-year increase.

Planet Labs PBC (NYSE:PL - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $8.56.

A number of research firms have weighed in on PL. The Goldman Sachs Group started coverage on Planet Labs PBC in a report on Monday, June 30th. They set a "neutral" rating and a $4.60 target price on the stock. JMP Securities upped their price target on Planet Labs PBC from $8.00 to $11.00 and gave the stock a "market outperform" rating in a research note on Tuesday, September 9th. Wedbush raised their price objective on Planet Labs PBC from $11.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday. Needham & Company LLC upped their target price on shares of Planet Labs PBC from $8.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Finally, Wall Street Zen raised shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a research report on Friday, June 6th.

Planet Labs PBC Trading Up 8.0%

Shares of Planet Labs PBC stock opened at $14.87 on Friday. Planet Labs PBC has a 12-month low of $2.06 and a 12-month high of $15.11. The company has a market cap of $4.58 billion, a P/E ratio of -49.58 and a beta of 1.99. The company's fifty day simple moving average is $8.34 and its two-hundred day simple moving average is $5.84.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its earnings results on Monday, September 8th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Planet Labs PBC had a negative return on equity of 20.25% and a negative net margin of 34.46%.The company had revenue of $73.39 million during the quarter, compared to analysts' expectations of $65.88 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The company's revenue for the quarter was up 20.1% on a year-over-year basis. Planet Labs PBC has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Analysts predict that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Institutional Trading of Planet Labs PBC

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Iron Gate Global Advisors LLC bought a new position in Planet Labs PBC during the 1st quarter valued at approximately $36,000. HighTower Advisors LLC purchased a new stake in shares of Planet Labs PBC in the first quarter worth $37,000. Forum Financial Management LP bought a new position in shares of Planet Labs PBC during the first quarter valued at $39,000. Wellington Shields & Co. LLC bought a new position in shares of Planet Labs PBC during the first quarter valued at $39,000. Finally, Mackenzie Financial Corp raised its position in shares of Planet Labs PBC by 32.1% in the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company's stock worth $45,000 after purchasing an additional 3,245 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.

Planet Labs PBC Company Profile

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company's platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.

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